Altea and KAI Enter into a Preclinical and Clinical Development Agreement
News Jan 14, 2010
Altea Therapeutics Corporation announced has that it has entered into a partnership with KAI Pharmaceuticals, Inc. (KAI), a drug discovery and development company, for the preclinical and clinical development of certain KAI proprietary peptides utilizing Altea’s proprietary PassPort® Transdermal Delivery System.
Under the terms of the agreement, Altea and KAI will examine the transdermal delivery of certain KAI proprietary compounds using Altea’s novel transdermal delivery technology, the PassPort System.
Altea has also granted KAI an option to receive a worldwide technology license for the further development and commercialization of these novel transdermal products. Should KAI exercise the option, KAI will fund all product development, manufacturing and commercialization activities, and Altea may receive license payments, development and commercialization milestones and royalties on product sales from KAI.
“We are pleased to enter into this agreement with KAI Pharmaceuticals,” said Dr. Eric Tomlinson, PhD, DSc, President and CEO of Altea Therapeutics. “The agreement further validates the broad application of the Altea Therapeutics novel transdermal patch technology for the transdermal delivery of water-soluble compounds. While we continue to apply our transdermal technology to currently approved drugs that previously were administered by needle injection or infusion, including water-soluble proteins, carbohydrates and small molecules, this new partnership allows us to apply our technology to the new peptide drugs being developed by KAI Pharmaceuticals.”
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